Accumuli has followed up its latest acquisition announcement with half year figures that indicate its strategy of expanding its capabilities through buying expertise is paying off.
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The security specialist inked the deal to buy big data player Eqalis yesterday and has shown that the integration of authentication managed services player Signify, which it picked up in June for £2.6m, is already paying dividends.
For its half year, ended 30 September, revenue increased by 23% to £7.7m, from £6.3m the year before, and gross profit improved by 28% to £4.5m, with 62% of that coming from recurring revenue streams.
“This has been another period of solid growth for Accumuli, demonstrating our continued ability to drive organic growth from existing business operations whilst executing on our successful acquisition strategy. The integration of Signify is progressing well, providing early traction in terms of cross-selling opportunities, and we are seeing increasing interest across our solutions and services portfolio. As a result, the group delivered revenue growth of 23%, improved profitability and continued strong cash generation," said Nick Kingsbury, chairman of Accumuli.
“We believe we have the right platform in place for further profitable growth and we look forward to building on this progress in the traditionally stronger second half of the year. As such, we remain confident in a successful outcome for the year as a whole," he added.